Once you mail your diamond jewelry to Worthy, they send it for official appraisal at the Gemological Institute of America (the most credible, world-renowned appraiser on the market). There the GIA will create an official report about your jewelry and diamond, including its dollar value. You keep this report for free, regardless of whether you end up selling with Worthy.

Also, at every single step of the process, you receive email and text notifications of the location of your jewelry. You never have to worry about it being lost or stolen, as it is sent through FedEx, and insured for $100,000.

If your diamond is appraised at least $1,500, you’re eligible to sell on Worthy.

And even if it doesn’t or you opt out of selling with Worthy, you’ll know how much your ring is actually worth.

Your item will then be put to the company’s global marketplace, where hundreds of professional diamond buyers will bid for your jewelry. This is an important part of the process, because it ensures that you get top, market price for your jewelry. By comparison, if you were to sell to a local jeweler, or one of the other top-ranked diamond buyers on the Internet, you are at the mercy of just one appraisal and one quote.

Security

Aside from getting your money’s worth, security is likely at the top of your list of concerns.

I took a trip to Worthy’s headquarters recently and saw that video security made sure that all items received and shipped there are accounted for. Rooms where jewelry was received and appraised were very tightly controlled.

Again, Worthy insures your diamond up to $100,000 and ships it with FedEx. You receive tracking information every single step of the way.

Convenience and Control

Like I said, selling with Worthy is a very easy process.

With a Paypal payment system, Worthy processes payments in 1 business day.

If your buyer does a bank transfer, you’re guaranteed your money within 2 business days, and with a check, you’ll receive payment within 5 business days.

In under a week, you could declutter your diamond drawer for a chunk of cash.

Here’s how it works:

After you get your appraisal from GIA, you have a few options:

Your first option is to sell your diamond for GIA’s appraisal price. You’re then guaranteed by Worthy to receive that minimum price. If it ends up selling for more, you’ll get the highest value.

It’s a pretty safe bet if you’d prefer to leave it to the experts.

If you think your diamond is worth more than the appraisal, you can set your own minimum. The catch here is that the market value isn’t guaranteed.

The piece may end up selling for higher or lower than GIA’s estimate. It’s then up to you to decide which bid to accept.

Your last option is to create a buy-it-now price. If you’re really ready to ditch your diamond, you can set a price which, once offered, will automatically win the bid and close the auction.

How fast do you get paid with Worthy?

You can get a PayPal transfer within 1 business day, bank transfer within 1 business days, or a paper check will be sent within 5 business days.

How Worthy makes money

Worthy makes its money from commission. Rather than offering a flat fee, Worthy’s rates change based on how much your diamond is worth.

Worthy’s rates:

$1500- $5,000 = Worthy gets 22% of the total in commission

$5,001 – $50,000= 15%

$50,001 – $250,000 = 10%

$250,001+ = 5%

Stellar customer service

Worthy’s customer service representatives are dedicated to answering any questions you might have about selling your diamond.

Type in worthy.com right now, and once you land on their homepage you’ll get a pop-up chat from the customer support team.

If you choose to interact with them there, you can connect via phone or text.

These representatives are friendly, easily accessible, and extremely knowledgeable about what they do.

If you need more convincing, go to Worthy’s site and read the hundreds of reviews posted there.

And next time you’re in NYC, schedule an appointment to see for yourself!

Bottom line:Worthy is a boss in the diamond buying business. There is a reason their brand recognition has skyrocketed in just a few years. They really are the leaders in price, customer service, customer experience and overall quality.

Cash for Diamonds USA

You may have been really excited reading about Worthy, right up to to the point when I said they only buy jewelry worth $1,500 or more.

What if your diamond is smaller but still worth selling?

If so, you may want to look into CashforDiamondsUSA.

Sound familiar? That may be because you’ve heard of its parent company, CashforGoldUSA, in one of its commercials, billboards, or radio ads.

Those marketing efforts, albeit cheesy, stuck, and I decided to take a look.

How Cash for Diamonds USA Works

Like Worthy, CashforDiamondsUSA operates on a pretty straightforward system.

I just went to the site, entered my address, and waited for a mailer to arrive.

A little later that week, I got an email with an offer for my ring.

I decided to accept it, got a tracking number, and was cashing my check in just a few days.

Simplicity at its finest.

That was my experience, but you can set up the process by email or phone.

Like I did, you can opt for an email offer, which you’ll receive as soon as your diamond is appraised.

You can then accept or reject it online.

Accept, and your check is mailed within 24 hours. Decline, and you’ll get your jewels back with priority shipping.

You can also get a call from the company with your offer. Whether you accept or decline, you’ll get your check or ring back ASAP.

So here’s the breakdown of the best and worst qualities of CashforDiamondsUSA

Pros of CashforDiamondsUSA

Established with over 10 years in the business

B+ Better Business Bureau rating

Simple, straightforward selling process

Opportunity to make money on less valuable diamonds

Meticulous expert appraisals (they don’t just accept any diamond!)

Referral program: Get $25 when you refer a friend!

Cons of CashforDiamondsUSA

One person evaluates your diamond and gives you a flat rate vs Worthy’s plethora of buyers setting high value bids.

Probably not your best option for selling expensive, high-carat diamonds

While the process is easy, the website isn’t too user-friendly

Bottom line: If your diamond is modest and you’re ready to see it go, you should give CashforDiamondsUSA a try.

Diamond Buyers International

Diamond Buyers International is another established buyer to consider. Like the others on this list, Diamond Buyers International has a straightforward process for selling your diamond jewelry and loose diamonds.

How Diamond Buyers International Works

Diamond Buyers International is a mail-in buyer similar to CashforDiamonds.

At Diamond Buyers International, you just submit your diamond dimensions, request an estimate, receive a complimentary mailer, and ship those diamonds.

Okay, there’s a little more to the process than that.

What about security?

Like Worthy, Diamond Buyers International uses FedEx to ship its packages and ensure their safety.

To insure their safety, Diamond Buyers provides up to $5,000 coverage on your diamond (Worthy insures up to $100,000).

That’s where the similarity to Worthy ends.

Diamond Buyers International appraises your diamond, promising to make an offer within one business day.

You can then either accept or decline their offer online.

If the deal meets your needs, you can accept your payment via a mailed check, direct deposit, or PayPal.

If you decide to hang on to your diamond and try selling elsewhere, it will be shipped back to you promptly.

Log in to your IIDV account to accept or decline the offer. If you accept, you’ll be asked to upload a photo ID and can choose between a check or direct deposit.

Like the other sellers in the list, IIDV offers you the option to decline.

Let’s look at some of the pros and cons beyond the process.

Pros of IIDV

A+ Better Business Bureau rating.

Secure FedEx shipping

Payment in 3 business days by transfer, or a week by check. Your jewelry will also be opened under video surveillance.

Cons of IIDV

Again, you’re getting money based on one person’s valuation, not a whole marketplace.

Your ring may be taken from the setting during evaluation, and if you decline the offer, they may mail it back unmounted.

You don’t necessarily get documentation of your appraisal findings, just an offer.

The website limits its information on factors like IIDV’s commission or the process of declining their offer.

Bottom Line: IIDV was birthed from one of the most reputable diamond dealers in the world. They’re credible, certainly, and they’ll pay great attention to pricing your diamond fairly.

But their buyback information is vague, and they might not be the most obliging if you decline their offer.

Some of the links in this and other posts generate a commission. I never recommend products that I don’t truly believe in. Seriously – I get asked to write about stuff all the time and turn down hard cash if I’m not feeling it.

Emma Johnson

Emma Johnson is a veteran money journalist, noted blogger, bestselling author and an host of the award-winning podcast, Like a Mother with Emma Johnson. A former Associated Press Financial Wire reporter and MSN Money columnist, Emma has written for the New York Times, Wall Street Journal, Forbes, Glamour, Oprah.com, U.S. News, Parenting, USA Today and others. Her #1 bestseller, The Kickass Single Mom (Penguin), was named to the New York Post’s ‘Must Read” list.

Emma regularly comments on issues of modern families, gender equality, divorce, sex and motherhood for outlets like CNN, Headline News, New York Times, Wall Street Journal, Fox & Friends, CNBC, NPR, TIME, MONEY, O, The Oprah Magazine and The Doctors. She was named Parents magazine’s “Best of the Web,” “Top 15 Personal Finance Podcasts” by U.S. News, and a “Most Eligible New Yorker” by New York Observer.

A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Read more about Emma here.

About Emma Johnson

Emma Johnson is a veteran money journalist, noted blogger, bestselling author and an host of the award-winning podcast, Like a Mother with Emma Johnson. A former Associated Press Financial Wire reporter and MSN Money columnist, Emma has written for the New York Times, Wall Street Journal, Forbes, Glamour, Oprah.com, U.S. News, Parenting, USA Today and others. Her #1 bestseller, The Kickass Single Mom (Penguin), was named to the New York Post's ‘Must Read” list. Emma regularly comments on issues of modern families, gender equality, divorce, sex and motherhood for outlets like CNN, Headline News, New York Times, Wall Street Journal, Fox & Friends, CNBC, NPR, TIME, MONEY, O, The Oprah Magazine and The Doctors. She was named Parents magazine’s “Best of the Web,” “Top 15 Personal Finance Podcasts” by U.S. News, and a “Most Eligible New Yorker” by New York Observer. A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Read more about Emma here.